Graco Inc. (NYSE:GGG) Director Jack W. Eugster Sells 17,924 Shares of Stock

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Graco Inc. (NYSE:GGG) Director Jack W. Eugster sold 17,924 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $48.24, for a total transaction of $864,653.76. Following the completion of the transaction, the director now directly owns 114,678 shares of the company’s stock, valued at approximately $5,532,066.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

GGG stock traded up $0.02 during midday trading on Thursday, hitting $48.00. 19,431 shares of the stock traded hands, compared to its average volume of 528,032. Graco Inc. has a 1-year low of $38.59 and a 1-year high of $53.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.69 and a quick ratio of 1.68. The stock’s fifty day simple moving average is $47.05 and its 200-day simple moving average is $47.47. The firm has a market cap of $8.06 billion, a P/E ratio of 25.53, a PEG ratio of 2.32 and a beta of 0.96.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.06). Graco had a return on equity of 36.17% and a net margin of 20.29%. The firm had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $418.93 million. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. On average, research analysts predict that Graco Inc. will post 1.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a $0.16 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.64 dividend on an annualized basis and a yield of 1.33%. Graco’s payout ratio is 34.04%.

Several brokerages have issued reports on GGG. ValuEngine cut Graco from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada set a $46.00 price target on Graco and gave the stock a “hold” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $47.75.

A number of institutional investors and hedge funds have recently modified their holdings of GGG. BlackRock Inc. lifted its holdings in Graco by 3.5% during the second quarter. BlackRock Inc. now owns 15,382,636 shares of the industrial products company’s stock valued at $771,901,000 after purchasing an additional 517,850 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Graco by 1.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,260,481 shares of the industrial products company’s stock valued at $364,332,000 after buying an additional 108,152 shares during the last quarter. Atlanta Capital Management Co. L L C lifted its stake in shares of Graco by 0.4% in the second quarter. Atlanta Capital Management Co. L L C now owns 3,374,213 shares of the industrial products company’s stock worth $169,318,000 after buying an additional 12,776 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Graco by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 2,273,805 shares of the industrial products company’s stock worth $114,099,000 after buying an additional 33,036 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its stake in shares of Graco by 0.5% in the third quarter. Confluence Investment Management LLC now owns 2,117,809 shares of the industrial products company’s stock worth $97,504,000 after buying an additional 9,815 shares in the last quarter. 84.11% of the stock is currently owned by institutional investors.

Graco Company Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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